K12 CEO Packard: $5M in 2011, up 36%

Does your school superintendent get paid $5 million a year?
Ronald J. Packard, CEO of K12 Inc., the second biggest
donor to the pro-charter school amendment campaign, does.
Is that where you want your tax dollars to go?

That’s nearly twice the $2.67 million Packard earned in 2010. It
includes $551,000 in cash, $4.2 million in stock awards and about
$290,000 in other compensation.

Packard’s pay reflects a new employment agreement negotiated in
September 2010 and good until 2014. The company had $522 million in
revenue in 2011, up nearly 36 percent percent from the year before.

“We determined that these awards were necessary and
appropriate to retain Mr. Packard as our Chief Executive Officer and
in recognition of Mr. Packard’s leadership and performance over the
term of his employment with the Company,” the filing said.

Do we want our tax revenue going to retain K12 Inc.’s CEO?
What if we retain our local schools instead?
After all, it’s dubious that charter schools would be any better
than the
public
schools we already have.

K12 Inc. is the country’s largest operator of full-time public
virtual schools, in which students learn at home via computer. The
model is championed by some lawmakers, families and school-choice
advocates, but has also come under increasing fire by critics who
say it is an ineffective way to educate kids and a bad deal for
taxpayers footing the bill.

Also, pay inside K12 Inc. is being concentrated towards one man.

The company’s amended filing also lists compensation for other top
executives. They did not receive base-salary increases, the filing
said, “despite their excellent performance, in order to
maintain an efficient cost structure in an uncertain economic
environment.”

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One thought on “K12 CEO Packard: $5M in 2011, up 36%”

Keep in mind that this company is based in Virginia, so our tax dollars from say, South Georgia meant for our school teachers, administraters, supplies, and educating our students, would go to bolster the economy in Virginia and line the pockets of the very rich. Meanwhile we have to raise taxes to simply educate the students attending our public schools. This is clearly NOT a plan to ‘improve academic achievement’ as the preamble boldly lies.
The preamble is boldly inaccurate and completely biased. The wording added to the question on the ballot implies that the amendment would improve student achievement and parent involvement. My stars, what breathing individual doesn’t want those things.
Facts are that by some measures charter schools perform 3% worse than traditional public schools. We would hope that schools where parents have to sign a commitment of parent involvement would have superior parent involvement. Might I just add that students can be kicked out of charter schools and all students are educated in the Traditional Public School setting as per our Georgia constitution.
The ‘biased and inaccurate’ wording in the preamble to the charter schools question is not found in HB 1162, the law that allowed this question to be placed on the ballot. It is not in HB 797, the law thaw would be enacted should the amendment pass. NO the wording that is on the preamble comes straight out of ALEC documents, which are the equivalent of ‘legislation for Dummies’ with a particular slant as you might imagine.